Hello. My mom is repaying her boyfriend like 20,000 for when she borrowed it a couple years ago. Would this transfer be seen by FAFSA as her trying to hide assets or anything like that?
If that money is not hers the day your FAFSA is filed, it’s fine. I don’t think anyone cares where you spend your money. You could gamble it away, toss it out a window, or burn it. If it’s not in her account, it won’t be an asset.
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Ok thank you. I just didn’t know if it would be considered a “big transfer” and get flagged as suspicious activity lol.
Actually, it’s often suggested for some that any bills be paid before filing the FAFSA to reduce the amount of assets.
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It’s not an issue. Have her repay him before submitting the FAFSA. Note: This advice is only good if the FAFSA for the year has not been filed. If it has been filed already, you can’t go back and change the amount.
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